Monday, June 14, 2010

Great Moments in Government Update

ALBANY — Gov. David A. Paterson and legislative leaders have tentatively agreed to allow the state and municipalities to borrow nearly $6 billion to help them make their required annual payments to the state pension fund.

And, in classic budgetary sleight-of-hand, they will borrow the money to make the payments to the pension fund — from the same pension fund.

Read the rest of The New York Times article here.

[HT: The Cranky Professor]

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